Out with the old...

You send this typical maturity notice because the government says you must. You hope customers ignore this bleak message and let their CD roll over.

...In with the new

Any correspondence with your customers is a selling and retention opportunity. ACTON's CD Renewal letter encourages renewal and discourages rate shopping.

You're spending money for postage and envelopes to comply with the govern-ment's regulations, so you might as well invest that money in a letter that will improve your business opportunities.

Covers legal requirements

This replaces the current renewal notice you're mailing. All the necessary account information is clear, readable, and set apart from the marketing message.

 

Projects future earnings

A chart that shows what a customer can earn simply by keeping the money in the CD — or better yet, adding more to the balance — encourages retention and discourages shopping your competitors' rates.

Makes an offer

The same chart can offer a rate bump, if it's appropriate for the market conditions. When a financial institution needs to build deposits, this is an excellent method.

 

Easy response

The more convenient it is for customers to accept your offer, the more likely they are to take the path of least resistance.

 
 
 

You control the rate offers

Each CD Renewal client uses a secure, personalized ACTON website to set up and adjust rate offers at any time. We use those exact rates for the offers when we prepare the CD Renewal letters. If market conditions change, the CD Renewal Program can respond with the very next mail drop.

Access to all customer letters

As soon as the customer CD Renewal letters are prepared, pdf copies are uploaded to the client's secure website so they're available for viewing by staff in the branch offices. If a customer calls, the personalized letter showing the specific offer is available to the service representative with a few quick keystrokes.

Calling sheets

Branch personnel rave over the calling sheets. The sheets give them information about the maturing CDs of branch area customers, as well as household accounts and information. With one call to the customer, the service representative can encourage the CD renewal and cross-sell appropriate accounts and services based on the household information.

On-demand reports

For managers and executives, we provide on-demand reports and snapshots of the CD Renewal Program results for their organization.